Top 10 Cryptocurrency Choices for Investors in March 2022
There are an abundant of cryptocurrency choices that investors can avail themselves in 2022
From Bitcoin and Ethereum to Dogecoin and Tether, there are thousands of different cryptocurrency choices that can overwhelm you when you first step into the crypto world. For orientation, these are the top cryptos for March 2022 according to its profit margins, current growth potential, and the sum of all the best cryptocurrencies to invest in in 2022.
1. Bitcoin (BTC)
Developed by Satoshi Nakamoto in 2009, Bitcoin (BTC) is the original cryptocurrency. Like most cryptocurrencies, BTC runs on a blockchain or decentralized ledger and logs transactions distributed across a network of thousands of computers. Bitcoin uses a process called Proof of Work to securely protect transactions from fraudsters because additions to the distributed ledger need to be verified by solving crypto puzzles. The price of Bitcoin has skyrocketed because of its extremely strong support community.
2. Ethereum (ETH)
Both a cryptocurrency and a blockchain platform, Ethereum’s potential applications such as smart contracts and non-fungible tokens (NFTs) that run automatically when conditions are met and is a favorite of program developers, is one of the many reasons why Ethereum is also growing tremendously.
3. Tether (USDT)
Unlike some other forms of cryptocurrency, Tether is a stablecoin. In other words, it is supported by fiat currencies such as the US dollar and the Euro and holds a value virtually equivalent to one of these denominations. Theoretically, this means that the value of Tether is more stable than other cryptocurrencies and should be favored by investors who are wary of the extreme volatility of other coins.
4. Binance Coin (BNB)
Binance Coin is a form of cryptocurrency that allows you to trade and pay fees on Binance, one of the largest cryptocurrency exchanges in the world. Since its launch in 2017, Binance Coin has evolved as well as facilitated trading on Binance’s exchange platform. It can now be used for commerce, payment processing, and even booking travel arrangements. You can also exchange for other forms of cryptocurrencies such as Ethereum or Bitcoin.
5. U.S. Dollar Coin (USDC)
Like Tether, USD Coin (USDC) is a stablecoin. In other words, it is backed by the US dollar and we are aiming for a US$1 to US$1 ratio. USDC utilizes Ethereum and you can use USD coins to complete global transactions.
6. XRP (XRP)
Developed by the founder of the digital technology and payment processing company Ripple, XRP can be used on the blockchain networks to facilitate the exchange of various types of currencies, including fiat and other major cryptocurrencies.
7. Terra (LUNA)
Terra is a stablecoin blockchain payment platform that relies on maintaining a balance between the two cryptocurrencies. Terra-backed stablecoins like TerraUSD are tied to the value of physical currencies. Its counterbalance, Luna, is used to power the Terra platform and create more Terra stablecoins.
Terra Stablecoin and Luna work together on the basis of supply and demand. When the price of Stablecoin exceeds the value of the linked currency, users will be prompted to burn Luna to create more Terra Stablecoins. Similarly, this allows users to burn Terra Stablecoin and mint more Luna when it is less valuable than the base currency. As soon as the adoption of the Terra platform increases, so will Luna’s value.
8. Cardano (ADA)
Cardano is notable for its early adoption of proof-of-stake verification. This method reduces transaction time, energy consumption, and environmental impact by removing the competitive problem-solving aspects of transaction validation that exist on platforms such as Bitcoin. Cardano works like Ethereum, enabling smart contracts and decentralized applications that leverage the native coin ADA.
9. Solana (SOL)
Built to support decentralized finance applications (DeFi), decentralized apps (DApps), and smart contracts, Solana runs on the unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. Solana’s native token, SOL, enhances the platform.
10. Avalanche (AVAX)
Like Ethereum and Cardano, Avalanche provides blockchain software that can create and execute smart contracts backed by native tokens (AVAX in this case). Since its launch in 2020, Avalanche has grown rapidly. This is due to the relatively low gas charges and fast transaction processing speeds.
